I Hope the Buyer is a Good Investor; Asantehene on Sale of Guinness Ghana Majority Stake

The King of the Asante Kingdom, His Majesty Otumfuo Osei Tutu II, is hoping Castel Group will prove to be a worthy investor as it acquires the 80.4% shareholding in Guinness Ghana Breweries PLC (GGBL) from parent company Diageo PLC.

At a meeting with the Management of Guinness Ghana on January 31, 2025, the Asantehene was formally informed about the impending ownership reforms.

According to the Chairman of the beverages company, Dr Felix E. Addo, processes are underway to secure regulatory approval to formalise the new deal.

He envisions all the formalities to be concluded in the next four months.

Dr Addo noted that the reforms will not affect the Guinness brand and the quality standard of their products as they will be licensed to operate by Diageo under a long-term licence and royalty agreement.

The changes, he elatedly indicated, will affect just the end point of production and distribution which will be transferred over to the Castel Group.

“The basic Guinness, Star and Malta Guinness and all the brands we have here will still be the same in terms of quality, production and all. What will change will be capacity the new investment which we are expected to come not only to Kaase but the whole Guinness Ghana.”

Telling the King about the incoming majority shareholder, he said, “We’ve got a new investor called Castel Group. They are French and they are the second largest wine growing and wine distribution company in the whole world. They have bought out shares from Diageo which owns 80.4% of shares from Guinness Ghana. They are represented in about 21 countries in Africa.

“They have about 640 production points all over Africa. They are the biggest player on the African soil and we are glad that they have shown interest in acquiring our Guinness shares.”

New MD
The Board Chairman also introduced Felicite Nson as the company’s new Managing Director to the Otumfuo.

The Cameroonian took over from Helene Weesie in September 2023.

In her remarks, she posited that company and personnel growth are her priority.

“When I joined the company ten years ago, my vision was basically to ensure that we put Guinness Ghana on the map of Diageo Africa. It means basically ensuring that Guinness Ghana becomes the growth engine of Diageo Africa and also ensuring that our local people get promoted.”

This dream, she said has been realised.

“I’m proud to say that after a few years, Guinness Ghana is the fastest growing market in Diageo Africa today.”

Expectations
The King remarked that he was looking forward to an investor that will prioritise the expansion Diageo couldn’t do as he reiterated his desire to see the Kaase branch grow exponentially.

This, according to him, must translate into the creation of more jobs for his people.

“What I’m hearing means that I have a future for Guinness. I’m aware that the new investor is buying over 80% shares. I hope that it will be a good investor. The investment here in Kumasi is so dear to my heart and you know that. It’s been here for years….I’m looking forward to long term relationship where this company will do well.

“The investment should manifest in relation to how we expand the plant here because I know that if you are outgrowing your production, then it has to expand. If the reason is that Diageo is not prepared and someone is buying, I suppose we need to see an expansion and continuity that will lead to creation of more employment.”

Staff Training
His Majesty also called for investment to develop staff to take the leadership mantle and run the company.

According to him, Ghanaians are competent and only require the needed technical and technological training to excel.

“I also insist that I want my people to be trained and given the technological knowledge so that they assume the reins. I have the manpower here. We train people here at KNUST. They can run the company.”

Otumfuo looks forward to seeing Ghanaians managing the company.

“The future belongs to my people in relation to running this company.”

The delegation led by the Board Chairman, Dr Felix E. Addo, included Samuel Markin, Director of Supply Chain, Kelvin Boateng, Legal Officer, John Boadu, Board Member, Kofi Sekyere, Board Member and Silvia Owusu, Corporate Affairs Officer.

Source: opemsuo.com/Hajara Fuseini